Managing growth expectations

In a highly uncertain global economic environment, realistic growth projections would reduce risks

Chief Economic Advisor V Anantha Nageswaran has done well to note that growth in gross domestic product (GDP) in the current fiscal year is likely to be between 6.5 and 7 per cent. He further added that this would be lower than what the government expected earlier. This is perhaps the first time a high-ranking government official has expressed the possibility of ending the current fiscal year with GDP growth lower than 7 per cent. With the given global and domestic economic conditions, growth is more likely to be closer to the lower end of the range than the upper